404-832-1251
1305 Heather Dr, Opelousas, LA for Sale
Storefront - FOR SALE
1/6
null | Request Cap Rate

1305 Heather Dr
Opelousas, LA 70570


HIGHLIGHTS

  • National Tenancy: Hobby Lobby, CashSaver (Piggly Wiggly), Petsense, Ollie's Bargain Outlet, AT&T, Direct General, It's Fashion, among others
  • Value-Add Potential: Outparcel development and rent growth opportunities
  • Excellent Visibility: Direct visibility from I-49 with 45,000 VPD
  • Evangeline Downs Racetrack & Casino: 1 mile from the property
  • Stability With Upside: 4.5 WALT on leases
  • Recent Big Ticket Capital Upgrades: Roof and Parking

OVERVIEW

St. Landry Plaza is made up of a seasoned rent roll with a strong base of national tenants including Hobby Lobby, Cash Saver (Piggly Wiggly), Petsense, It's Fashion, Ollie's Bargain Outlet, among others. The center has direct interstate visibility from Interstate 49's 45,000+ vehicles per day. As future development upside, the property allows for the development of five outparcels up to 5,000 SF building size each. This includes 3 in the parking field facing Interstate 49. The property also offers a significant mark to market opportunity on the Brown's Furniture space, which has no remaining options and significant national tenant interest should they ever leave. Drawing daily shoppers to the center is the grocery anchor Cash Savers (a Piggly Wiggly brand) that operates at a very healthy 1.8% occupancy cost. Another local staple in the center is Mama's Fried Chicken with over $2.2M in annual sales at the location. The property has undergone many major recent property upgrades including new roofs and parking fields, limiting an investors initial capital repairs. The rent roll has a long list of tenants that have been in their spaces 10+ years. National retailers within a mile of the site include Walmart, Walmart Neighborhood Market, Super1 Foods, Dollar Tree, Shoe Dept, Hibbett Sporting Goods, CATO, Planet Fitness, Harbor Freight, among many other national restaurant chains. The center pulls from a significant trade area of 30+ miles in most directions.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

St. Landry's Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

1368

LAND DETAILS

LAND ACRES

21.4 AC

LAND SF

932,184 SF

ZONING

C-2

APN/PARCEL ID

0102847000

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin Street Real Estate ServicesMore Info
404-832-1251

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Bryan BelkFranklin Street Real Estate ServicesMore Info
404-832-1251

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.